Clearway Energy, Inc. (NYSE:CWEN) Short Interest Update

Clearway Energy, Inc. (NYSE:CWEN) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 5,937,285 shares, a growth of 21.3% from the December 31st total of 4,893,293 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 1,270,379 shares, the days-to-cover ratio is currently 4.7 days. Based on an average daily volume of 1,270,379 shares, the days-to-cover ratio is currently 4.7 days. Approximately 2.9% of the company’s shares are short sold.

Hedge Funds Weigh In On Clearway Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Clearway Energy by 1,116.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock valued at $13,757,000 after acquiring an additional 394,579 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Clearway Energy in the third quarter worth about $6,473,000. Nordea Investment Management AB raised its position in shares of Clearway Energy by 325.3% in the second quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock valued at $7,747,000 after purchasing an additional 187,861 shares during the period. Capula Management Ltd bought a new stake in shares of Clearway Energy in the third quarter valued at approximately $4,646,000. Finally, Maven Securities LTD lifted its stake in shares of Clearway Energy by 1,285.4% during the 3rd quarter. Maven Securities LTD now owns 144,082 shares of the company’s stock valued at $4,070,000 after buying an additional 133,682 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Ratings Changes

CWEN has been the subject of several recent research reports. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. UBS Group restated a “buy” rating and issued a $39.00 price objective on shares of Clearway Energy in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, January 21st. Roth Mkm increased their price target on Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Finally, Zacks Research upgraded Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.71.

Clearway Energy Stock Up 1.0%

Shares of Clearway Energy stock traded up $0.37 during trading on Wednesday, reaching $37.30. 1,093,495 shares of the company traded hands, compared to its average volume of 1,206,668. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.54 and a quick ratio of 1.44. The company has a 50 day moving average price of $34.22 and a 200-day moving average price of $32.28. The firm has a market capitalization of $7.60 billion, a PE ratio of 15.94, a P/E/G ratio of 1.35 and a beta of 0.95. Clearway Energy has a 1-year low of $25.55 and a 1-year high of $37.69.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The company had revenue of $429.00 million for the quarter, compared to analyst estimates of $427.72 million. During the same quarter last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, equities research analysts expect that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.